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The Boston Globe

Business

Boston Capital

Ted Kelly’s pay shocking on several levels

One brief question this morning for directors at insurance giant Liberty Mutual: What on Earth were you thinking?

I’ve spent the last few days trying to imagine the Boston company’s board meetings, when those directors looked over Ted Kelly’s bulging pay package year after year and came to the conclusion that, yes, that was reasonable compensation for their recently retired chief executive. My imagination fails me.

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